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American National BankShares (NASDAQ:AMNB) Stock Rating Upgraded by Zacks Investment Research

Posted on Tuesday, June 30th, 2020 by MarketBeat

American National BankShares (NASDAQ:AMNB) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research report issued on Tuesday, Zacks.com reports. The firm presently has a $27.00 price objective on the financial services provider's stock. Zacks Investment Research's price target would suggest a potential upside of 6.97% from the company's previous close.

According to Zacks, "American National Bankshares Inc. is a one-bank holding company. "

AMNB has been the topic of several other research reports. TheStreet downgraded shares of American National BankShares from a "b-" rating to a "c+" rating in a report on Monday, March 9th. Raymond James lowered their price target on shares of American National BankShares from $31.00 to $27.00 and set an "outperform" rating on the stock in a report on Friday, April 24th. BidaskClub downgraded shares of American National BankShares from a "sell" rating to a "strong sell" rating in a report on Friday, May 8th. ValuEngine downgraded shares of American National BankShares from a "hold" rating to a "sell" rating in a report on Friday, April 3rd. Finally, Stephens raised shares of American National BankShares from an "equal weight" rating to an "overweight" rating and set a $29.50 price target on the stock in a report on Wednesday, April 29th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. The company has a consensus rating of "Hold" and an average target price of $30.13.

Shares of AMNB traded up $1.06 on Tuesday, reaching $25.24. The company's stock had a trading volume of 466 shares, compared to its average volume of 26,660. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $255.31 million, a P/E ratio of 11.96 and a beta of 1.12. The stock's 50 day simple moving average is $24.51 and its two-hundred day simple moving average is $29.62. American National BankShares has a 12-month low of $18.53 and a 12-month high of $40.57.

American National BankShares (NASDAQ:AMNB) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.14. The company had revenue of $24.41 million for the quarter, compared to the consensus estimate of $23.87 million. American National BankShares had a net margin of 20.42% and a return on equity of 10.93%. Analysts expect that American National BankShares will post 2.24 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its holdings in shares of American National BankShares by 8.2% in the first quarter. Wells Fargo & Company MN now owns 24,270 shares of the financial services provider's stock worth $581,000 after buying an additional 1,834 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of American National BankShares by 4.5% in the first quarter. Geode Capital Management LLC now owns 152,985 shares of the financial services provider's stock worth $3,655,000 after buying an additional 6,532 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of American National BankShares by 3.4% in the first quarter. Nuveen Asset Management LLC now owns 37,721 shares of the financial services provider's stock worth $901,000 after buying an additional 1,249 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of American National BankShares by 28.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,325 shares of the financial services provider's stock worth $79,000 after buying an additional 736 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of American National BankShares by 46.0% in the first quarter. Citigroup Inc. now owns 3,154 shares of the financial services provider's stock worth $75,000 after buying an additional 993 shares in the last quarter. 37.41% of the stock is currently owned by hedge funds and other institutional investors.

American National BankShares Company Profile

American National Bankshares Inc operates as the bank holding company for American National Bank and Trust Company that provides financial products and services. The company operates through two segments, Community Banking, and Trust and Investment Services. It accepts deposit products, including checking, money market, savings, and consumer and commercial time deposits, as well as certificates of deposit.

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